Ultragenyx Pharmaceutical Inc. (NASDAQ:RARE) Stock Has Average Target Price of $33.65

Shares of Ultragenyx Pharmaceutical Inc. (NASDAQ:RARE) have been assigned an average rating of “Hold” from the twenty-two brokerages that are currently covering the company, MarketBeat reports. One investment analyst has rated the stock with a sell rating, eleven have issued a hold rating, nine have given a buy rating and one has assigned a strong buy rating to the company. The average 1 year target price among brokerages that have issued a report on the stock in the last year is $33.65.

RARE has been the topic of several recent research reports. Wedbush dropped their target price on shares of Ultragenyx Pharmaceutical from $30.00 to $23.00 and set a “neutral” rating on the stock in a report on Thursday, September 3rd. Wall Street Zen upgraded shares of Ultragenyx Pharmaceutical from a “sell” rating to a “hold” rating in a report on Saturday, August 8th. Morgan Stanley upped their price target on shares of Ultragenyx Pharmaceutical from $18.00 to $20.00 and gave the stock an “equal weight” rating in a research report on Friday, September 18th. TD Cowen cut their price objective on shares of Ultragenyx Pharmaceutical from $49.00 to $18.00 and set a “buy” rating on the stock in a report on Thursday, September 3rd. Finally, Royal Bank Of Canada lowered shares of Ultragenyx Pharmaceutical from a “moderate buy” rating to a “hold” rating in a report on Thursday, September 3rd.

Insider Transactions at Ultragenyx Pharmaceutical

In other news, CFO Howard Horn sold 7,066 shares of Ultragenyx Pharmaceutical stock in a transaction on Thursday, October 15th. The stock was sold at an average price of $15.27, for a total value of $107,897.82. Following the transaction, the chief financial officer directly owned 89,229 shares in the company, valued at approximately $1,362,526.83. This trade represents a 7.34% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Over the last quarter, insiders sold 8,510 shares of company stock worth $127,561. 5.20% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Several large investors have recently made changes to their positions in RARE. Versant Capital Management Inc lifted its stake in shares of Ultragenyx Pharmaceutical by 662.9% during the 2nd quarter. Versant Capital Management Inc now owns 1,152 shares of the biopharmaceutical company’s stock worth $38,000 after purchasing an additional 1,001 shares during the last quarter. GAMMA Investing LLC raised its holdings in Ultragenyx Pharmaceutical by 149.5% in the second quarter. GAMMA Investing LLC now owns 1,919 shares of the biopharmaceutical company’s stock worth $64,000 after purchasing an additional 1,150 shares in the last quarter. Leonteq Securities AG lifted its position in shares of Ultragenyx Pharmaceutical by 288.5% during the first quarter. Leonteq Securities AG now owns 1,795 shares of the biopharmaceutical company’s stock valued at $38,000 after buying an additional 1,333 shares during the last quarter. Quantbot Technologies LP purchased a new stake in shares of Ultragenyx Pharmaceutical during the second quarter valued at about $48,000. Finally, Parallel Advisors LLC lifted its position in shares of Ultragenyx Pharmaceutical by 778.4% during the first quarter. Parallel Advisors LLC now owns 1,625 shares of the biopharmaceutical company’s stock valued at $34,000 after buying an additional 1,440 shares during the last quarter. 97.67% of the stock is owned by institutional investors.

Ultragenyx Pharmaceutical Trading Up 6.3%

Shares of Ultragenyx Pharmaceutical stock opened at $16.02 on Wednesday. The firm has a market cap of $1.58 billion, a P/E ratio of -2.74 and a beta of 0.35. Ultragenyx Pharmaceutical has a 12 month low of $12.73 and a 12 month high of $39.89. The stock’s fifty day moving average price is $18.37 and its 200-day moving average price is $23.51.

Ultragenyx Pharmaceutical (NASDAQ:RARE) last released its quarterly earnings data on Tuesday, August 4th. The biopharmaceutical company reported ($0.90) earnings per share for the quarter, beating the consensus estimate of ($1.22) by $0.32. The firm had revenue of $214.00 million during the quarter, compared to the consensus estimate of $183.08 million. During the same quarter in the previous year, the firm earned ($1.17) earnings per share. The business’s revenue was up 28.5% compared to the same quarter last year. Analysts forecast that Ultragenyx Pharmaceutical will post -3.97 earnings per share for the current year.

About Ultragenyx Pharmaceutical

Ultragenyx Pharmaceutical Inc is a biopharmaceutical company focused on developing and commercializing therapies for rare and ultra-rare genetic diseases. The company targets conditions with limited or no treatment options, including metabolic disorders, skeletal diseases and other inherited conditions. Its work includes the development of medicines, biologic therapies and gene therapy candidates intended to address the underlying causes or significant symptoms of these disorders.

Ultragenyx’s commercial portfolio includes Crysvita (burosumab), a treatment for X-linked hypophosphatemia and related disorders; Dojolvi (triheptanoin), a medical food used to manage long-chain fatty acid oxidation disorders; and Mepsevii (vestronidase alfa), an enzyme replacement therapy for mucopolysaccharidosis VII.